"Buoyed by our 9th consecutive quarter of year-over-year growth in Search revenue ex-TAC and our first quarter of Q1 year-over-year growth in display revenue ex-TAC since 2011, Q1 was an early and important sign of growth in our core business," said Yahoo! CEO Marissa Mayer in a prepared statement.

Mayer also noted that mobile content and traffic is central to Yahoo!'s future, and expressed delight at reaching 430 million monthly mobile users during the quarter.